Press "Enter" to skip to content

Mexico seeks trade agreement with Vietnam

Mexico City, Mexico — Mexico is conducting talks with several countries including Vietnam in an attempt to reach a bilateral agreement.

Secretary of Economy, Ildefonso Guajardo said that Mexico has been negotiating with Vietnam on topics such as textiles and automotive to “see if we can reach any bilateral agreement.”

“We are talking bilaterally to see how we can reach some understandings with several countries, including Vietnam,” he said.

“Additionally, there are a couple of issues that we are discussing with strategic sectors such as textiles and automotive and we are talking bilaterally to see how we can reach some understandings that could be accepted mainly with Vietnam,” he said.

The talks are part of the Comprehensive and Progressive Agreement of Transpacific Associatio.

“We must recognize that this agreement goes on the same basis as that which was concluded on October 25, 2017. The level of ambition of the progressive agenda was maintained and we did not allow commitments on labor rights and environmental rights to be withdrawn,” he said.

He highlighted that the more than 20 benefits that were driven by the US agenda were frozen. “This is to generate incentives for the future. If one day the United States decides to integrate, that does not come for free,” he warned.

As soon as the agreement is signed it will be sent to the Senate of the Republic for its consideration and eventual approval with the expectation that it could be in this legislative period for the work that has been done.

“Fortunately the Senate of the Republic did a lot of work with forums with all the productive sectors and they know the conditions on which that negotiation had been built. If it is approved in this period that ends in April, it would be a good message but it is a decision of the Senate,” he said.